Charoen Pokphand Foods Plc.

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1 Charoen Pokphand Foods Plc. Content Quick Facts 9M13 Results September 30, 2013 Financial Status Appendix A: Product Sample & Retail Outlet Format B: Highlights: Q213 Results C: 3Yr Historical Results Page 1 1

2 CPF Investment Highlights 1. Leading Global Fully Integrated Agro-Industrial and Food Company 2. Well-Diversified product portfolio with operation in 12 countries covered > 3 billion populations 3. Capturing strong growth opportunity in emerging markets 4. Continuous expansion of business territories & Business diversification 5. Financial flexibility 6. Stakeholders priorities Page 2 Quick Facts (as of September 30, 2013) Vision : Kitchen of the World Position Member of SET50, Ticker CPF under Agro-Industrial & Food Sector Ranked 914 th in Y2012 Forbes Global 2000 list of the World s Biggest Company Listed on MSCI MSCI Thailand, MSCI Asia Free, MSCI Asia Free ex-japan, MSCI Asia Pac Free, MSCI AC World ex US, MSCI AC World Free, MSCI EM Asia, MSCI Global Emerging Markets, MSCI AC Far East Free, MSCI AC Far East Free-ex Japan 3 Listed Investments (HKSE:00043, SET:CPALL, TWSE: 1215) 18 Series of Debentures listed on Thai Bond Market Association Highlights Vision : Kitchen of the World FY12 Sales : THB357 billion or ~USD 11.4 billion Market Cap : THB 181,006 million or ~USD5.7 billion (as of November 8, 2013) Operations : 36% Thailand-Domestic 9% Thailand-Export Credit Rating : AA- with Stable Outlook (July 26, 2013) 55% International Capital : 7,743 million shares (paid-up), par value of THB.1.00 per share Business : 81% Livestock / 19% Aquaculture Shareholders : Charoen Pokphand Group Ltd % of Paid-Up Capital (as of August 26, 2013) Product : 56% Feed / 32% Farm / 12% Food Book Value : THB16.66 per share Note: USD1 = THB (as of November 8, 2013) Page 3 2

3 9M13 at a Glance Challenges Continuing impact of EMS (Early Mortality Syndrome) on shrimp business, especially Thailand Farm price pressure in international operations (Turkey and India) Latest Activities Completed 60% acquisition of CP Meiji on July31, 2013 (Purchase price THB 1,200 million) Pending approval from Federal Antimonopoly Service for 68.3% acquisition of RBPI (Estimated purchase price THB 2,384 million) Page 4 9M13 Results Acquisition Unit: THB, M +9% -52% -71% GPM 9.5% (9M12: 12.9%) OPM 1.6% (9M12: 5.4%) EBITDA 3.0% (9M12: 6.7%) NPM 1.9% (9M12: 7.0%) Margin Page 5 3

4 CPF Operations : 9M13 CPF Operational Structure CPF (Consolidated) 9M2013 : Sales = 285,886 MB Net Profit = 5,311 MB 42% of Sales 58% of Sales 73% of Net Profit CPF THAILAND CPF International 41% of Sales 16% of Sales Associate Companies Domestic CPP- HKSE:43 ( 71%)* TW:1215 CPE(Taiwan) (32%) Turkey (100%) SET: CP ALL (32%) CPH (Malaysia) (50%) Export CHINA Vietnam India (100%) Malaysia (100%) CP Aqua (India) (32%) CP Cambodia (25%) UK (52%) Arbor (50%) Laos (100%) Ross (50%) China (100%) Nava84 (25%) Russia (100%) Conti Chia Tai International (38%) Note: % represent percent holding by CPF both direct and indirect * Based on ordinary shares only Philippines (100%) Zhan Jiang Deni Carburetor (21%) CP Meiji (60%) Page 6 Fully Integrated Business Model : From Feed to Food Vertically Integrated Operating Platform with concern on environment Livestock (Broiler, Layer, Swine, Duck) Aquaculture (Shrimp & Fish) Feedmill Breeding Farming Processing Adding Value Branding & Marketing Food Retail Outlet Feed Breeder Live Animal Fresh Meat Food & Ready Meal Farm Unique Value Chain for Safety & Quality Control Page 7 4

5 CPF Positioning Leading Foothold in Asia with Well-Established Position in High Growth Potential Markets Countries Controlled Year Livestock Aquaculture Thailand 1978 Feed, Farm, Food Feed, Farm, Food UK Russia China 2012 Feed Feed Lao Vietnam 2012 Feed, Farm, Food Feed, Farm, Food UK 2002 Distributor & Chilled Plant Turkey 2004 Feed, Farm, Food - Turkey China Taiwan Vietnam India 2005 Feed, Farm, Food Feed, Farm India Philippines Malaysia 2005 Feed, Farm, Food Feed, Farm, Food Laos 2006 Feed, Farm, Food - Thailand Cambodia Russia 2006 Feed, Farm - Malaysia Philippines 2007 Feed, Farm Feed, Farm Taiwan 2009 Feed, Farm, Food - Cambodia 2011 Feed, Farm, Food - populations covered >3,000 million people Page 8 9M13: Consolidated Sales by Operations CPP* THB 121,029 million + 16% China 28% Vietnam 14% THB 120,287 million + 3% Thailand Domestic 35% Export 7% Other International 16% THB 44,570 million + 7% Total Sales THB 285,886 million + 9% Note: * CPP has been consolidated since January 20, 2012 Page 9 5

6 9M13: Consolidated Sales Structure Sales Breakdown 9M12 9M13 % Change Thailand 117, ,287 3% Domestic 95,572 99,316 4% Export 21,564 20,971-3% China 73,075 81,485 12% Vietnam 31,235 39,544 27% Others 41,509 44,570 7% Total 262, ,886 9% Page 10 9M13: Consolidated Sales Structure by Business Sales Breakdown Total Livestock Aqualculture 9M12 9M13 % 9M12 9M13 % 9M12 9M13 % Thailand 117, ,287 3% 85,754 99,236 16% 31,382 21,051-33% Domestic 95,572 99,316 4% 74,678 86,584 16% 20,894 12,732-39% Export 21,564 20,971-3% 11,076 12,652 14% 10,488 8,319-21% China 73,075 81,485 12% 64,721 72,430 12% 8,354 9,055 8% Vietnam 31,235 39,544 27% 25,914 32,662 26% 5,321 6,882 29% Others 41,509 44,570 7% 33,726 34,841 3% 7,783 9,729 25% Total 262, ,886 9% 210, ,169 14% 52,840 46,717-12% 2008 : Results 6

7 9M13: Consolidated Sales by Products Sales Breakdown by Products Feed Farm Food Total 9M12 9M13 % 9M12 9M13 % 9M12 9M13 % 9M12 9M13 % Thailand 42,591 38,686-9% 45,561 51,020 12% 28,984 30,581 6% 117, ,287 3% Domestic 42,353 38,375-9% 40,163 46,123 15% 13,056 14,818 13% 95,572 99,316 4% Export % 5,398 4,897-9% 15,928 15,763-1% 21,564 20,971-3% China 73,075 81,485 12% ,075 81,485 12% Vietnam 16,549 19,349 17% 14,282 19,444 36% % 31,235 39,544 27% Others 19,724 20,985 6% 19,439 20,762 7% 2,346 2,823 20% 41,509 44,570 7% Total 151, ,505 6% 79,282 91,226 15% 31,735 34,155 8% 262, ,886 9% 9M13 Thailand 9M13 China 9M13 Vietnam 9M13 Others 9M13 Total Page 12 9M13: Thailand Operations Export Destination Asia EU Asia EU Others USA Others USA Farm THB 4,897 million -9% Food THB 15,763 million -1% Page 13 7

8 9M13: Sales & Gross Profit Margin by Business In THB, m 9M12 9M13 +9% +13% 285, , % 85,754 99,236-33% 139, , % 31,382 21,051 21,458 25,666 Thai-Livestock Thai-Aqua Overseas-Livestock Overseas-Aqua TOTAL 2008 : Results GPM % 21.8% -6.5% 12.8% 11.3% 11.7% 6.2% 12.9% 9.5% OPM 1.6% 3.4% 16.3% -14.4% 5.0% 3.0% 6.7% -0.2% 5.4% 1.6% Page 14 9M13: Consolidated Income Statement Highlight Quarter 1 Quarter 2 Quarter 3 9 Months Change Change Change Change Net sales 73,480 87,424 19% 92,255 93,194 1% 97, ,268 8% 262, ,886 9% Gross Profit Margin (%) 13.6% 9.0% 13.6% 8.5% 11.7% 10.8% 12.9% 9.5% Gain on fair value adjustment , % EBITDA 5,226 1,743-67% 7,127 1,830-74% 5,375 4,965-8% 17,728 8,538-52% EBIT 3,565 (213) -106% 5,274 (212) -104% 3,405 2,726-20% 12,244 2,301-81% Share in Profit of Associates 990 1,398 42% 1,086 1,197 10% 1,065 1,296 22% 3,141 3,891 24% Financial Costs (1,175) (1,600) 36% (1,650) (2,302) 40% (1,659) (2,142) 29% (4,484) (6,044) 35% Income Taxes Expense (587) (281) -52% (1,492) % (705) % (2,784) % Gain / (Loss) from FX (12) (112) -833% (6) % (62) (118) -90% (80) (158) -98% NET PROFIT 12,113 1,026-92% 4,035 1,636-59% 2,404 2,649 10% 18,552 5,311-71% EPS (THB) # of capital shares ** 6,900 7,388 7,388 7,388 7,388 7,388 7,225 7,388 Paid-Up Capital 7,743 7,743 7,743 7,743 7,743 7,743 7,743 7,743 Dividend (THB/Share) Note: ** # of capital shares = No. of the Weighted-avg. shares : * Including restate of IFRS basis Page 15 8

9 Average Market Price: Major Products Broiler (THB / KG.) 36.0 Nov 13 Avg. Price % y-o-y % % Source: CPF Page 16 Average Market Price: Major Products Swine (THB / KG.) Nov Avg. Price % y-o-y % % Source: CPF Page 17 9

10 Average Market Price: Major Products Fresh Egg (THB / piece) Nov Avg. Price % y-o-y % % Source: CPF Page 18 Average Market Price: Major Products White Shrimp (Size70) Nov Avg. Price % y-o-y % % Source: CPF Page 19 10

11 Average Market Price: Major Feed Raw Materials Corn (THB / KG.) 8.0 Nov 13 Avg. Price % y-o-y % % Source: CPF Page 20 Average Market Price: Major Feed Raw Materials Soybean Meal (THB / KG.) 19.0 Nov 13 Avg. Price % y-o-y % % Source: CPF Page 21 11

12 Average Market Price: Major Feed Raw Materials Fishmeal (THB / KG.) 27.0 Nov 13 Avg. Price % y-o-y % % Source: CPF Page 22 Financial Status Interest Bearing Debt : THB 173,786 Net Debt to Equity Unit : THB, M Cost of Debts M % 4.82% 4.48% Remark : Net Debt = Interest Bearing Debt - Cash and Cash Equivalents Bond Rating AA- with Stable Outlook by Tris Rating Co., Ltd Page 23 12

13 Y2013 Milestones Operations Sales + 10% to 15% M&A Target related to core businesses Enhancing value to core operations Investment 5Yr Capex of THB 50,000 million (excluding CPP) ; cautiously investment for growth Thailand : add on value to existing businesses International : diversification & market expansion Page 24 5-Year Mission Increase return by growing value added businesses Synergize new investment with the existing core operations Capitalize growth opportunity in emerging market Strengthen brand and expand retail-food businesses Build solid corporate governance foundation Move towards sustainability platform Page 25 13

14 Appendix A: Product Sample & Retail Outlet Format 2008 : Results Food Retail Products Page 27 14

15 Food Service : Five Stars Chain Five Star Chicken in India Page 28 Food Service : Chester s Page 29 15

16 Food Retail Outlets Page 30 Appendix B: Highlights : Q313 results 2008 : Results 16

17 Q313: Consolidated Sales Structure Sales Breakdown Q312 Q313 % Change Thailand 39,703 41,889 6% Domestic 31,685 34,641 9% Export 8,018 7,248-10% China 30,706 32,466 6% Vietnam 11,907 14,964 26% Others 14,904 15,949 7% Total 97, ,268 8% Page 32 Q313: Consolidated Sales Structure by Business Sales Breakdown Total Livestock Aqualculture Q312 Q313 % Q312 Q313 % Q312 Q313 % Thailand 39,703 41,889 6% 29,226 34,680 19% 10,477 7,209-31% Domestic 31,685 34,641 9% 25,145 30,058 20% 6,540 4,583-30% Export 8,018 7,248-10% 4,081 4,622 13% 3,937 2,626-33% China 30,706 32,466 6% 25,825 27,086 5% 4,881 5,380 10% Vietnam 11,907 14,964 26% 9,690 12,035 24% 2,217 2,929 32% Others 14,904 15,949 7% 11,789 11,903 1% 3,115 4,046 30% Total 97, ,268 8% 76,530 85,704 12% 20,690 19,564-5% 2008 : Results 17

18 Q313: Consolidated Sales by Products Sales Breakdown by Products Feed Farm Food Total Q312 Q313 % Q312 Q313 % Q312 Q313 % Q312 Q313 % Thailand 14,180 13,298-6% 15,098 17,927 19% 10,425 10,664 2% 39,703 41,889 6% Domestic 14,089 13,204-6% 13,107 16,349 25% 4,489 5,088 13% 31,685 34,641 9% Export % 1,991 1,578-21% 5,936 5,576-6% 8,018 7,248-10% China 30,706 32,466 6% ,706 32,466 6% Vietnam 6,301 7,124 13% 5,439 7,533 39% % 11,907 14,964 26% Others 7,406 7,658 3% 6,723 7,176 7% 775 1,115 44% 14,904 15,949 7% Total 58,593 60,545 3% 27,260 32,636 20% 11,367 12,087 6% 97, ,268 8% Q313 Thailand Q313 China Q313 Vietnam Q313 Others Q313 Total Page 34 Q313: Thailand Operations Export Destination Farm THB 1,578 million - 21% Food THB 5,576 million - 6% Page 35 18

19 Q313: Sales & Gross Profit Margin by Business In THB, m Q312 Q313 97,220 +8% 105,268 +8% +19% 51,024 47,304 29,226 34,680-31% +21% 10,477 7,209 10,213 12,355 Thai-Livestock Thai-Aqua Overseas-Livestock Overseas-Aqua TOTAL 2008 : Results GPM 8.8% 14.5% 19.5% -13.2% 11.8% 12.2% 11.4% 8.8% 11.7% 10.8% OPM 0.4% 6.5% 12.5% -21.6% 4.3% 4.6% 6.6% 3.7% 4.3% 3.3% Page 36 Appendix C: Highlights : 3Yr Historical Results 2008 : Results 19

20 2012: Consolidated Income Statement Highlight Full Year * % Change 2012 % Change Net sales 189, ,099 9% 357,175 73% Gross Profit Margin (%) 15.6% 16.3% 11.6% Gain on fair value adjustment - - 8, % EBITDA 18,359 20,869 14% 18,621-11% EBIT 13,561 16,130 19% 11,245-30% Share in Profit of Associates 2,511 3,863 54% 4,139 7% Financial Costs (1,824) (2,432) 33% (6,378) 162% Income Taxes Expense (2,388) (2,898) 21% (2,675) -8% Gain / (Loss) from FX 1, % (52) -127% NET PROFIT 13,563 16,117 19% 18,790 17% EPS (THB) # of capital shares ** 6,656 6,656 7,266 Paid-Up Capital 7,520 7,520 7,743 Dividend (THB/Share) Note: ** # of capital shares = No. of the Weighted-avg. shares : * Including restate of IFRS basis Page 38 CAPEX & EBITDA CAPEX EBITDA Unit: THB, M Unit: THB, M (% to Sales) 19,947 15,670 10% 10% 5% 3% Page 39 20

21 Consolidated Net Profit & ROE & D/EBITDA Unit: THB, M Net Profit ROE & D/EBITDA CAGR 18% * Before Tax TAX: (2,388) (2,898) (2,675) 292 NP: 13,563 15,837 18,790 5,311 Note : 2012 Including gain on fair value adjustment of investments in associate * Annualized Basis Page 40 Consolidated Net Profit - Quarterly Unit : THB, M 12,113 * Note : 1Q12 Gain on fair value adjustment of investments in associates = 8,673 MB : * Including restate of IFRS basis Page 41 21

22 EPS & Dividends per Share Earnings Per Share Dividends Unit : THB Per Share Unit : THB Per Share CAGR 13% Dividend Policy Semi Annually, minimum of 50% of annual net profit (The Company Statement Only) CAGR 7% Page 42 Disclaimer This presentation contains some information from other sources, that CPF does not make any representations regarding the use, validity, accuracy, or reliability of, or the results of the use of information, data but not limited to, all text, and images ( the Content ) on this presentation. Some content may contain forward-looking statements, that based on management s view upon the information currently available to us. These statement are subject to certain risks and uncertainties that could cause the actual results materially differed from what had been previously stated. The Content and the Forward-looking statements state within this presentation only as the date they made. The Company undertakes no responsibility on the change after that date stated herein. The material set forth herein is for informational purposes only. It should not be construed, as an offer of securities for sale. Investor Relations Office Charoen Pokphand Foods Public Company Limited 313 C.P.Tower Building, 26 th Floor, Silom Road, Bangrak, Bangkok 10500, Thailand Tel. Ms.Kobboon S. (662) / Mr.Warrawut T. (662) / Ms.Prenant N. (662) Fax.(662) kobboon@cpf.co.th / warrawut@cpf.co.th / prenant.nee@cpf.co.th Page 43 22

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